Financial Wire - Financial News

Market Chatter: Canada's Liberals Secure Majority Government

Prime Minister Mark Carney's Liberals secured a majority government Monday following byelection wins in two Toronto-area ridings, Scarborough Southwest and University-Rosedale, CTV News is reporting.Then, the report noted, in the early morning on Tuesday, just after midnight ET, they won the Quebec riding of Terrebonne, where the Liberals and Bloc Quebecois were neck-and-neck.According to CTV News, the result in Ontario was largely expected. Both of them are considered Liberal strongholds. Physician and health-care executive Danielle Martin took University-Rosedale, and former provincial NDP deputy leader Dolly Begum won Scarborough Southwest. Tatiana Auguste clinched the win for the Liberals in Quebec, taking a traditional Bloc Quebecois riding for the Liberals.(Market Chatter news is derived from conversations with market professionals globally, and/or from other media sources. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Condor Energies Launches C$15 Million Bought Deal Offering of Common Shares

Condor Energies (CDR.TO) late on Monday said it has entered into an agreement with underwriters for the sale of 5.8 million of its common shares on a "bought deal" basis for gross proceeds of up to C$15 million.Under the agreement with Canaccord Genuity and Research Capital as co-lead underwriters and joint bookrunners, the common shares will be acquired at a price of $2.60 apiece with an option to purchase up to an additional 865,500 common shares at the offering price.The overallotment option is exercisable for a period of 30 days after and including the closing date. If exercised in full, the overallotment option would result in additional gross proceeds of about $2.3 million.Net proceeds will be used to continue development of Condor's natural gas fields in Uzbekistan, including enhancing field compression, and general corporate purposes.The offering is scheduled to close on April 21, or at a later date as determined by the underwriters and the company, subject to certain conditions including regulatory approvals and the approval of the Toronto Stock Exchange.The company has agreed to pay to the underwriters a cash commission equal to 6% of the gross proceeds of the offering.

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US Markets5d ago

FedEx Finance Chief to Step Down Upon Freight Operations Spinoff

FedEx (FDX) said its finance chief will step down in early June as the parcel delivery giant completes the spinoff of its freight business into a new publicly listed company.John Dietrich will leave his role as chief financial officer on June 1 and remain with the company until July 31, it said late Monday. Claude Russ, enterprise vice president of finance at FedEx, will serve as interim CFO while the company conducts an internal and external search for a permanent successor to Dietrich.Shares of FedEx edged down 0.6% in Tuesday's most recent premarket activity. The stock has gained 29% so far this year."I want to thank John for his many contributions to the FedEx leadership team over the last several years as we successfully navigated a significant company transformation and delivered on the upcoming spin of our freight business," Chief Executive Raj Subramaniam said in a statement. "As we begin the search for John's successor, I am confident that Claude's wealth of experience will ensure seamless continuity and commitment to advancing our strategy."The separation of FedEx's freight division is expected to complete on June 1.FedEx also reiterated its fiscal 2026 outlook issued in March. At the time, the company expected adjusted earnings to be in a range of $19.30 to $20.10 per share on revenue growth of 6% to 6.5%. The current consensus on FactSet is for non-GAAP EPS of $19.77 and sales of $93.56 billion.The company reaffirmed its targets for 2029 shared at its investor day in February, which included a compound annual growth rate for revenue of 4%.

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Financial News

Market Chatter: Canada's Liberals Secure Majority Government

Condor Energies Launches C$15 Million Bought Deal Offering of Common Shares

Market Chatter: Canada's Liberals Secure Majority Government

Condor Energies Launches C$15 Million Bought Deal Offering of Common Shares

3 Vessels Under US Sanctions Pass Through Hormuz Strait Despite US Blockade, Reuters Analysis Shows

Morgan Stanley Initiates Janus Living at Overweight With $28 Price Target

FedEx Finance Chief to Step Down Upon Freight Operations Spinoff

Nasdaq 100 Futures Up 0.4% and S&P Futures Up 0.2%

Brook Crompton's Australian Arm Receives Demand Letter from Client

JPMorgan Adjusts Price Target on Diamondback Energy to $228 From $225, Maintains Overweight Rating

TSH Resources Repurchases Shares

Sea Insider Sold Shares Worth $1,701,180, According to a Recent SEC Filing

Market Chatter: China Says Hormuz Blockade Threatens Global Interests

Sea Insider Sold Shares Worth $17,473,634, According to a Recent SEC Filing

Takashimaya Swings to Full-Year Loss

Emerita Resources Receives Unsolicited Offer from Denarius Metals

Argonaut Securities Starts Valiant Gold at Speculative Buy with AU$0.63 Price Target

Morgans Financial Starts Koala Financial Group at Buy with AU$5.13 Price Target

Update: Market Chatter: Amazon in Advanced Talks to Acquire Globalstar; Globalstar Shares Rise 15% Pre-Bell

Canada's Liberals Party Secure Majority Government After Clinching 3 Byelections Overnight Monday

Morgan Stanley Upgrades Whitehaven Coal to Overweight from Equalweight; Price Target is AU$9.75

Brent Crude Down Near 0.7% at About US$98.70 and NY Crude Down 2.25% at US$96.85